ITC on painting materials

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Manager
528 Points Posted on 22 October 2022
Experts,

Can a company avail the ITC on purchase of painting materials for building's repair and maintenance work.
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On 22 October 2022 at 16:23 Report
Replies (4)
Quick Summary
This discussion clarifies whether companies can claim Input Tax Credit (ITC) on painting materials used for building repair and maintenance. The consensus is yes, provided these expenses are charged to the Profit & Loss account (not capitalised) and the materials are used for business purposes.

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SEO Sai Gr. Hosp.
212556 Points Posted on 22 October 2022

Yes, provided the repairs expenses are debited to P&L acc, [and not capitalized.]

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On 22 October 2022 at 18:13
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Profession
28271 Points Posted on 23 October 2022
Provided used for the furtherance of business.
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On 23 October 2022 at 07:14
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Manager
528 Points Posted on 07 November 2022
Thank you experts for your replies
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On 07 November 2022 at 09:00
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SEO Sai Gr. Hosp.
212556 Points Posted on 07 November 2022

You are welcome..        

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On 07 November 2022 at 10:25

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